Mcr Purchases the Doubletree Minneapolis University Area and Converts it to a Hilton Garden Inn

USA, New York City, New York. September 08, 2021

Big time in the Big Ten! MCR — the country's 4th-largest hotel owner-operator — is the proud owner of the 141-room Hilton Garden Inn Minneapolis University Area at the University of Minnesota's main campus that's home to more than 50,000 undergraduate and graduate students.

Last fall, MCR acquired the DoubleTree from a lender who foreclosed on their borrower. MCR's purchase price was more than a 40% discount to what the hotel previously sold for in 2018. In June 2021, MCR rebranded the hotel from a DoubleTree to a Hilton Garden Inn.

The Hilton Garden Inn is MCR's second hotel in Minneapolis. MCR also purchased the 60-room Chambers Hotel in downtown at a price that was nearly 50% below the prior owner's cost basis.

Located on the University of Minnesota's East Bank main campus, the Hilton Garden Inn Minneapolis University Area is across from the M Health Clinics hospital and its recently opened $160 million surgery center. The Stadium Village light rail station — with links to Minneapolis−Saint Paul Airport — is just two blocks away.

Part of the Big Ten (the oldest Division I collegiate athletic conference in the U.S.), the University of Minnesota has an energetic sporting scene. The hotel is a short walk from TCF Bank Stadium (home of the school's Golden Gophers football team), where the Gophers will kick off their much anticipated football season against the Ohio State Buckeyes on September 2! Williams Arena basketball court and the 3M Arena at Mariucci (where the Gophers play ice hockey and fans in the stands shout "Ski-U-Mah," the famous chant since the 1800s) are also just a stone's throw away. Fun fact: Cheerleading was founded at the university in fall of 1898 when, after a string of football losses, Minnesota students began leading organized cheers for fans to stir up enthusiasm!

After the games, make yourself at home at the Hilton Garden Inn. Rooms and suites boast mini-refrigerators, coffeemakers and enough outlets to charge all your devices. Need to clock in? Take advantage of your guestroom's oversized work desk and ergonomic chair, plus the free, fast Wi-Fi that flows throughout the property.

You can also head to the business center or hold your meeting on site; the hotel offers nearly 6,000 square feet of flexible meeting space for up to 300 people, with floor-to-ceiling windows and great views of TCF Bank Stadium.

When it's time to relax, retreat to the heated indoor pool or run a few miles at the 24/7 fitness center. Later, head to the on-site Huron Bistro Bar for a classic burger or traditional Minnesota walleye and beers from local breweries!

The Hilton Garden Inn Minneapolis University Area is located at 511 Huron Boulevard SE and features:

141 pet-friendly guestrooms and suites with mini-refrigerators and coffeemakers

The Huron Bistro & Bar

A 24-hour grab-and-go market with snacks and beverages

Free fast Wi-Fi

A 24-hour fitness center

A 24-hour business center

An indoor pool and hot tub

6,000 square feet of flexible event space with floor-to-ceiling windows

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Revenue Management: Monetizing All Offerings


Of all the departments within hotel operations, Revenue Management may have been the hardest hit, due to the pandemic. The logic goes - no revenue, no need for revenue managers - so many industry professionals were furloughed. If business rebounds in 2021, as expected, then hotel management will have to determine when prevailing occupancy levels justify bringing back their revenue management team. Also, the pandemic seems to have exposed some weaknesses in the traditional RevPAR models. There is a growing understanding that it is no longer sufficient to use a "revenue per available room" model; instead, hotels are adopting a TRevPAR model (total revenue per available room). This model recognizes that revenue streams from other departments are just as important as the revenue gained from rooms. As a result, hotels are looking at ways to monetize any and all hotel offerings - from dining outlets and spas to outdoor function spaces and local partnerships. The October issue of the Hotel Business Review will examine these developments and report on how some leading hotels are executing their revenue management strategies.